Last post on Jun 19, 2013 at 8:13 PM
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Car Buying, Car Selling
#2900 of 3262 Re: AutoCheck Report Questions [mystichalo]
by Kirstie@Edmunds HOST
Jan 24, 2012 (8:29 am)
You might ask to be certain, but I believe Carmax allows a 5-day return period if you're not satisfied with the vehicle. Not sure if this applies to transfers, and you might lose the transfer fee if you return. However, if the return period applies, then you can always buy it, take it to a mechanic, and if it doesn't meet your standards, return it. That sounds like a HUGE pain, but it makes me think, "what would they have to lose by letting you take it to be inspected?" If you're going to do that anyway, better to let you take it before buying than have you buy it and return it.
#2901 of 3262 Need advice on buying a new car from people with experience.
Feb 07, 2012 (8:48 am)
So Ever since I saw the New Kia Optima SX I have wanted it. I think it fits a place in the market where no other car really existed before.
Here are my issues I have never been in this situation first off I have never bought a New car only Used cars.
Also I still owe money on my current car
Here is the Deal I used to drive an RSX and it died about 1 and a half years ago at that time I didn't have the money to get a great car so I ended up getting a 2006 Suburu Impreza 2.5i. I looked up the trade in value of the Impreza and found it to be even with what I still owe on the car maybe minus like 300 more that I owe then the KBB trade value shows.
I now have a new job that pays much better and really want to get in a New Optima. I have a really short commute so I was thinking about going the lease route as my commute to work is super short. I have always wanted to get a new car and hate driving my Impreza. I mean its not a bad car but I want something nicer with some better options and I fell inlove with the Optima SX.
The main thing thats stopping me is I dont want to get screwed over on a deal as I have never bougght a so I wanted advice from experienced new car buyers.
First off I know I should never talk trade until I get the real price I will be paying for the New Optima but what I am not sure of is how to handle my issue with the trade making sure that I don't screw it up and make a bad deal.
Also just as a quick note I do have $2,000 - $2,500 to put as a down payment toward the Optima.
Thanks in advance for the help!
#2902 of 3262 Re: Need advice on buying a new car from people with experience. [dsf767]
Feb 07, 2012 (9:17 am)
when you bring up the trade means absolutely nothing as long as you have done your homework. You need to be prepared with your numbers ahead of time. Know what kind of financing you can get on your own, too. Don't let them push you into talking in terms of "payment." You want to work with whole, actual numbers ... your purchase price and your trade-in price.
As long as you've worked out your financing with an outside source, talking payments will only confuse things. You should know ahead of time what your payments will be if they meet your purchase/trade-in values. Then, when that is all settled, you can inquire about financing. You tell them "I have x.x% for xx months from my bank. Can you meet or beat it?"
KBB is crap, BTW. The values there mean nothing in the real world.
#2903 of 3262 Re: Need advice on buying a new car from people with experience. [qbrozen]
Feb 07, 2012 (9:21 am)
I have done that in the past however with this car I think I want to go the lease route so I would have to work with them. As now I ahve a much shorter commute so wont put over 15k miles a year and I would like a cheaper payment with the option for a new car at the end.
I do have very good credit I am in the 740 range on my credit score and have good job history.
The only reason I asked is because I have never leased and never tried to get a new car still owing on my current car.
#2904 of 3262 Re: Need advice on buying a new car from people with experience. [dsf767]
Feb 07, 2012 (11:49 am)
sorry. Missed the lease part.
In that case, as long as the money factor is low, most people would tell you not to put any money down.
Still, though, do your homework. There is a lease calculator here on Edmunds, and the residual/money factor can be found out, too. There are message boards here for every make/model where you can inquire. Armed with those numbers as well as a good selling price, you can figure it all out.
#2905 of 3262 Re: Need advice on buying a new car from people with experience. [qbrozen]
by Kirstie@Edmunds HOST
Feb 07, 2012 (12:59 pm)
Here's the Lease Questions discussion specific to the Optima:
As far as the trade-in goes, you negotiate that just like you would if you were buying. The "purchase price" on a leased vehicle can be negotiated, as can the trade in.
As far as still owing money on it, well... as long as you don't owe a LOT more than it's worth, the dealer doesn't care what you owe on it. His only concern is purchasing it from you at a price that will allow him to re-sell it while making some money. That's what the dealer's offer for your trade-in will be based on, nothing more.
IF you owe (slightly) more than what it is worth, you can expect to have limited negotiation power when it comes to the price of the vehicle you intend to lease, as the excess would be rolled into the price of the new vehicle you intend to lease.
#2906 of 3262 HOW TO KNOW WHEN USED CAR PRICE WILL COME DOWN
Feb 10, 2012 (6:03 am)
I see that a lot of vehicles on BMW CPO website end in various figures, such as $xx,991 $xx,992 $xx,993 $xx,994 $xx,995
I assume the last three digits signify how long they have had the car, and how many times the price has been reduced?
Is there a formula / rule to figure out when the price was reduced and when it may be reduced again if it doesn't sell.
Basically if it's $xx,991 does that mean it's been reduced a couple of times and they are more likely to negotiate or I can wait a little while for further reduction?
#2907 of 3262 Questions from a Complete Newbie
Feb 17, 2012 (7:51 am)
I am a 41 year-old New Yorker who has not owned a car since 1997. I am moving to Chicago for a job and will need to buy a car. I am considering several small/mid size models in the $35-45k range. Prefer to go used (1-2yrs old) but slightly more upscale than new but less upscale. Will pay cash. I have contacted a number of dealers in Chicago area about specific cars and asked them to send by e-mail all the pricing details, starting with the car price itself, dealer fees (itemized one by one), destination charges, taxes -- the works. I have also advised them that I will not come in for a test drive until I receive the info in full and we get a chance to discuss it over e-mail, and that I would be contacting multiple dealers. I advised them that I will be making a decision within 3-7 days.
I have not heard back from one dealer (it has been 72 hours) yet. Based on my experience with buying other items, internet is highly effective for consumers to do comparison shopping and drive down the price. However, I seem to be having no luck here. What am I doing wrong? Any insights will be helpful.
#2908 of 3262 Re: Questions from a Complete Newbie [bobnyc]
Feb 17, 2012 (7:56 am)
First, it doesn't work so great with cars. Second, it works even less with used cars. Telling them you are contacting multiple dealers does nothing in this case because no 2 used cars are the same. Your tactic would be more effective on new cars, but again, internet shopping for cars is a hit or miss endeavor. When I've done it in the past, I have found I get about a 10% response rate.
#2909 of 3262 Re: Questions from a Complete Newbie [bobnyc]
Feb 17, 2012 (8:03 am)
you pretty much are pushing all the buttons as a non-serious buyer. IOW, someone that is going to take a lot of their time, but they see very little chance of selling you a car (and even less at a price that would make it worth the hassle).
So, they are concentrating on buyers that are there in real time most likely.
Might be just me (different strokes and all that), but i have to see the car first to know if I even want it.,
anyway, most dealers do have a web feature to ask for the "special internet price" (if they don't have it listed already). if you want to negotiate off that feel free, but doing it via email most likely you are going to have to make the first offer.
and if you want to call and ask what the standard fees are it will save a lot of time probably. tax, DMV, etc. will be the same so the only realy variable is their individual dealer fees (doc fees).
finally, in my experience, it makes little sense to start trying to negotiate before you have settled on exactly what you want.